The foregoing of one alternative when we choose other is Opportunity cost. Learn more. The idea of an opportunity cost was first begun by John Stuart Mill. The opportunity cost is that you cannot have those two hours for leisure. So in order to avail one opportunity we forego the opportunity of availing the other opportunity. To understand Lets take a piece of land, where either one can grow crops or set up a factory. Opportunity Meaning in Hindi: Find the definition of Opportunity in Hindi. It is "the loss of potential gain from other alternatives when one alternative is chosen". Translator. Hindi meaning of opportunity cost] opportunity cost] / अवसर लागत; विकल्प लागत; लागत; वैकल्पिक; विकल्पी; Synonym opportunity cost; alternative use cost; costs; optional; Marginal Opportunity Cost refers to the number of units of a commodity sacrificed to gain one additional unit of another commodity. An implicit cost is any cost that has already occurred but not necessarily shown or reported as a separate expense. For example, there is an opportunity cost of choosing to finance a company with debt over issuing stock. English. Thesaurus. Synonyms: economic cost. If we spend that £20 on a textbook, the opportunity cost is the restaurant meal we cannot afford to pay. If you decide to spend two hours studying on a Friday night. Opportunity Cost Economics is a study of choices from available alternatives. Marginal opportunity cost is designed to explain in concrete terms what it will cost a business to produce one more unit of its product.In addition to the obvious material costs of producing more of a product, marginal opportunity cost attempts to identify the complete costs of each additional unit, from raw materials to increased labor costs to other variables. Cambridge Dictionary +Plus opportunity cost (noun). Log In Dictionary. Opportunity cost is the value of the next best thing you give up whenever you make a decision. opportunity definition: 1. an occasion or situation that makes it possible to do something that you want to do or have to…. Dictionary Grammar Blog School Scrabble Thesaurus Translator Quiz More Resources More from Collins. It has been created collecting TMs from the European Union and United Nations, and aligning the best domain-specific multilingual websites. Importance of opportunity cost An opportunity cost is the cost of not being able to do other things with time and resources because of doing the chosen activity. opportunity is defined by the lexicographers at Oxford Dictionaries as A time or set of circumstances that makes it possible to do something. What does opportunity mean? Opportunity cost meaning in Hindi (हिन्दी मे मीनिंग ) is cost in terms of foregone alternatives.English definition of Opportunity cost : cost in terms of foregone alternatives Grammar. Log In Dictionary. opportunity cost (noun). Opportunity cost is defined as the cost of any activity measured in terms of the best alternative activity which is forgone. Alternatives means opportunities. OneIndia Hindi Dictionary offers the meaning of Opportunity in hindi with pronunciation, synonyms, antonyms, adjective and more related words in Hindi. can be put to alternative uses, every action, choice, or decision has an associated opportunity cost. 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